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1701 John Law. Credit Is As Dead As A Rat B-115


Visible in communities: Medal Collectors

Representative Images
in Betts Medals (currently in collection)
1701. Silver. Obverse is of a man apparently dead on the ground his now worthless wallet with letters of credit beside him. Reverse features an empty suit seen from behind with date 1701 on the waist. The types and legends refer to a drying up of credit and contingent mass bankruptcy but not necessarily the collapse of Law's Mississippi scheme. Interesting that now 200 years later America finds itself in a severely constricted credit market and people with notes and letters of credit that are worthless. Surely their are some John Law's of the day that are responsible for similar fraud. NGC XF-40.

Provenance:

  • John J. Ford Ex. Henry Christensen's sale of September 20, 1967

Item record created Jan. 16, 2009.
Viewed 203 times.
item record in VRA Core 4.0

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